bearish
The Case for Oil // Farmer Sentiment continues to fall
SUMMARY
- Farmer Sentiment continues to fall Producer sentiment fell to its weakest reading since July 2022 as the Purdue University/CME Group Ag Economy Barometer declined 19 points to a reading of 104 in May.
- The Index of Future Expectations was down 22 points to a reading of 98 in May, while the Index of Current Conditions was down 13 points to a reading of 116.
- This month’s lower sentiment was fueled by drops in both of the barometer’s sub-indices and likely triggered by weakened crop prices, according to the University of Purdue.
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